NEW YORK, NY (FSCwire) - NEW YORK, NY / ACCESSWIRE / November 8, 2018 / The blockchain based digital content platform development company WAY2 BIT (representative: Song Gyehan) said on November 7th that it has established a research institute with blockchain technology R&D and related technical patent application as the long-term objectives.

The WAY2BIT Institute has a research team headed by the institute director Cheon Kyoungwook who is working in the field of network security. Chen Kyung Uk has participated in the development and service of platforms such as NEOWIZ and Hangame. By the end of 2017, he worked as the CTO of (Ltd.) 4:33 company, which provides online/mobile game software development services.

In the future, WAY2BIT will through the Institute carry out a broader study on Ethereum, EOS-based network uploading of large-scale blockchain services, real-time conversion technology between different tokens, technologies required to add services to the blockchain base, template method to create private blockchain systems, etc.

Particularly for the technology required to add services to the blockchain base, institute will conduct research on the application of financial service ZERO-Knowledge Proof technology that requires privacy protection, the application of basic security technology in the confidential field (Random-number generator, Obfuscation, etc.) and the real-time performance of smart contracts.

Regarding the establishment and plan release of the WAY2BIT Institute, Cheon Kyoungwook expressed that the proposition of 'Omnipotent Platform= Useless Platform' is the motto, which is not limited to the basic idea of the current blockchain, and the blockchain architecture of the additional service should be considered. According to the characteristics of the conservative security domain, it is better to review and combine the methods certified for decades than to 'invent' the new calculations, to focus on 'discovering' blockchain applications.

At the same time, he said that WAY2BIT will expand the blockchain service limited to cryptocurrency to large-scale fields with real-time needs such as games, finance, p2p and aim at applying for related patents through such in-depth research.